The U.S. Department of Energy announced on Friday that it had granted an LNG export license to the Commonwealth LNG project in Cameron Parish, reports Reuters. It was the first approval of LNG exports after former President Joe Biden paused them early last year.
Commonwealth LNG, which has waited longer than any other company for its permit, wants to build a 9.5 million metric ton per annum export plant to sell to countries that do not have a free trade agreement with the U.S.
The company is expecting to make a final investment decision in September 2025, as a result of the license and subject to regulatory approval. Commonwealth expects first LNG production from the facility in early 2029.
The U.S. is trying to increase its LNG exports to help reduce Europe’s dependency on Russian gas after Moscow’s invasion of Ukraine three years ago. Read more.
